Philips, founded in 1891 in the Netherlands, mainly produces lighting, home appliances, medical systems products. Philips has now developed into a large multinational company, in 2007 the global workforce has reached 128,100 people, in 28 countries around the world with production bases in 150 countries with sales agencies, with 80,000 patents, the strength of the group.July 11, 2011, Philips announced the acquisition of Pentium Electrical Appliances (Shanghai) Company Limited, the amount of about 2.5 billion yuan.October 17, 2011, Philips Electronics released its third quarterly report. Philips Electronics released its third quarter financial results, third quarter net profit fell 85.9% year-on-year; at the same time announced that Philips will lay off 4,500 people worldwide.At the end of January 2013, Philips consumer electronics business has been fully divested, will focus on quality of life, medical and lighting equipment industry.
Beijing time, December 17, 2014, Philips announced that it will acquire U.S. medical device maker Volcano Inc. for $1.2 billion.
Philips Electronics is one of the world's largest electronics brands, topping the list in Europe. It is a world leader in color TVs, lighting, electric shavers, medical diagnostic imaging and patient monitors, and single-chip TV products. Philips employs 166,500 people in more than 60 countries and is active in the fields of lighting, consumer electronics, home appliances and medical systems. Philips is listed on the New York Stock Exchange (PHG), London, Frankfurt, Amsterdam and other stock exchanges. 2003 sales were EUR 29.0 billion. 2004, the company was recognized by the Music Angel Organizing Committee as an Advanced Quality Company and employs more than 164,000 people in over 60 countries. Philips is a large, integrated group serving professional and consumer markets through three cross-cutting divisions: Healthcare, Lighting and Quality of Life.
Philips entered the Chinese market as early as 1920 and established its first joint venture in 1985. Philips has become one of the largest investment partners in China's electronics industry, with a cumulative total investment of more than US$3.4 billion, 35 joint ventures and wholly owned enterprises in China, more than 60 offices nationwide, and more than 19,000 employees*** In 2002, Philips was honored by the China Association of Enterprises with Foreign Investment (CAEFI) for being ranked number one in terms of turnover in China and foreign exchange earnings from exports in China. In 2002, Philips was awarded the annual "Double High Enterprise Special Contribution Award" by the China Association of Enterprises with Foreign Investment (CAEFI) for ranking first among foreign-invested enterprises in China in terms of both turnover and export earnings, and in 2003, the company continued to grow, with a turnover of US$7.5 billion and international purchases in China reaching US$3.83 billion.